Chapter 942 – Be a hero
Although the Fu Family will not be affected much if the Hong Kong economy collapsed, it is not sothing Fu Guangzheng wants to see. Other than a few unscrupulous speculators, no one will want to see their country’s economic collapse.
“What’s wrong?” Feng Yu looked at the gloomy Fu Guangzheng. This is not his character.
“Should the governnt implent so asures to cool the property market?” Fu Guangzheng asked.
Huh? What is wrong with Fu Guangzheng? Does he want to interfere with this, and he can influence the Governnt?
Oh, Fu Rongqi can persuade the Governnt. That ans Hong Kong’s property market might still be saved.
“Are you going to suggest this to the governnt?”
“You can go instead of . You are quite influential in China, and should have so say about Hong Kong, right?”
Feng Yu: “……” Damn! It’s been a while since I get involved with politics!
“I will not get involved in this. If you want, you can suggest it yourself. Just increase the property taxes for the second and above properties, and it will curb these speculations. You can also suggest increasing the property transaction taxes and limit property loans, especially for second and above properties, and checks for vacancies, etc. This will cool down the property market.” Feng Yu casually replied.
Anyway, Feng Yu will not step forward and be the hero. Since Fu Guangzheng wants to be one, go ahead! Even if Feng Yu had to be a hero, he would be a hero behind the curtains!
“Wait… slow down. Let write it down.” Fu Guangzheng said.
“You are going to suggest this to the Governnt? Are you from the housing committee?” Feng Yu never expect Fu Guangzheng to take his words so seriously.
“No, but my Second Uncle is. The majority of my Second Uncle’s investnts are in properties. My Eldest Uncle had advised him to offload his overseas properties, but he still keeps lots of properties in Hong Kong. If the property market collapse, his losses will be massive. You might not know about the culture here in Hong Kong. If anything happens, the residents might go on the streets to protest and affect Hong Kong’s economy.” Fu Guangzheng explained.
“Alright. I will repeat what I said, and you must rember it. Tell your Second Uncle first, and it is up to him whether if he wants to suggest these to the Governnt. I don’t want to get involve…” Feng Yu repeated what he said, and Fu Guangzheng wrote it down.
Fu Rongqu will only be slightly affected if Hong Kong’s property market collapsed because he did not take loans for his properties. Fu Rongqi had told them not to take loans unless necessary. Cash is king!
That is why even if property prices fell, Fu Rongqu will not suffer any losses for the ti being. Most of his properties were comrcial properties like office buildings and shops.
Fu Guangzheng left to et his Second Uncle. He thought about what Feng Yu said, and felt it should be effective, but it is not easy to implent it.
Many people, especially those speculators, will object to these cooling asures. But the majority of the residents in Hong Kong will welco it, as most of them cannot afford to buy properties.
Fu Rongqu listened to Fu Guangzheng and thought hard about it. He knew the Hong Kong property market has a serious problem, and he had experienced Japan’s property bubble before. If he had not left the market in ti, he would have lost all his money!
Fu Rongqu thought the Hong Kong property market can last for another two years, as Thailand’s property market is still doing well after their economy collapsed.
But during this period, when the Hong Kong stock market plunged, a large number of funds entered the property market, and it includes foreign funds. Many people do not know how to trade futures and felt futures are risky instrunts. But all of them felt investing in properties is simple. It’s just bought low sell high, and even when there are risks involved, their property will still be around!
How popular is Hong Kong’s property market now? Units were sold out even before construction starts, and it is normal to see people buying 5 to 10 units at once. These people are not buying these properties to live. They are hoarding the units, waiting for prices to go up! Most of them do not have so much money to buy these properties and had to rely on bank loans.
Property prices are rising every day and made more people join the bandwagon to speculate properties. Furthermore, Soros’s defeat in Hong Kong made people believe Hong Kong’s economy is strong, and many investors from other Southeast Asian countries channeled their funds into Hong Kong!
The property market is too hot, and problems will surface. If the Governnt made any changes, those who speculated in properties would lose their money.
Feng Yu’s suggestions might be good, but it will be hard to implent, as it will affect the interest of many people.
“Guangzheng, what do you think of these asures? Do you think these can be implented?” Fu Rongqu asked.
“Uncle, I think these asures are not bad. We can modify the asures slightly to make it more lenient. For example, transactions between family mbers can be exempted from additional taxes and increased down paynt and taxes for third properties instead of the second property. It should be easier to get these asures implented.”
“Suggesting these to the Governnt by myself is not enough. I need to contact so friends, and with their support, it will be easier. But if they refuse to help, it will be impossible.”
Fu Rongqu’s friends are all top businessn in Hong Kong’s property market, and two of them are Hong Kong’s top ten wealthiest n. Of course, he had included Superman Li too.
If all of them agreed to the cooling asures, Hong Kong’s Governnt would approve it, but if they refused, it would be impossible to get these asures implented. After all, these asures will harm their interest.
When the property market collapsed, it is the speculators who will suffer, and the developers had sold all their units and are counting their profits.
Limiting the property market is equivalent to limiting the property developers’ profits. But if the market crashed, their real estate companies will also suffer losses in the future.
Now, the decision lies with the developers. Do they want to make so fast cash, or make long-term profits?
“Guangzheng, you are the one who ca up with these asures. Since Feng Yu does not want to get involved, we should not ntion his na.” Fu Rongqu said.
“But if these asures got implented, the one who suggested these will be popular with the ordinary folks.”
“You also said, ‘if it got implented.’ What if it didn’t get implented? Many people will be offended, and your relationship with Feng Yu might be soured. Since you are the one who asked Feng Yu, you should take up the responsibility.”
Fu Guangzheng nodded. “Ok.”
Fu Guangzheng does not mind taking the bla, because he knows Feng Yu cherished his reputation. Also, he doesn’t think Feng Yu is afraid of any Hong Kong tycoons. Even if Feng Yu had to go against Superman Li, Fu Guangzheng would put his money on Feng Yu winning. To Fu Guangzheng, Feng Yu had never lost before!
I will take responsibility, regardless if it is a hero or villain!
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